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Hi from just answer. I'm PDtax, and can assist.
Could you explain more behind your guarantee, and who is pursuing you regarding your guarantee?
OK, so you guaranteed a lease, I assume for a building. The business failed, and you are being looked to to honor your guarantee.
This is a business law question, but I can assist. You likely do have to disclose your net worth, so the attorney can assess your ability to pay. I suggest that if you haven't engaged an attorney, that you do so before responding. Do not respond in any form without legal representation.
Your attorney will assess any insurance that might cover the claim, the validity of the guarantee ( a guarantee without consideration might not rise to the level of a contract), and other resolution options.
Thanks for asking at just answer. Positive feedback is appreciated. I'm PDtax.